20 Ways to Spend Less, Save More

If you’re tired of seeing only $10 left over in your bank account every month after all the bills are paid, then it’s time to take a look at your spending and saving habits.

Jan Yager, a sociologist, coach and author provided nine tips via email to reduce spending in order to build your savings account. She is the author of a 30-page booklet, “21 Ways to Beat a Financial Crisis.”

1) “Consider your spending habits. Are there ways you spend your money that you know you could eliminate and, if you're consistent and organized, direct those funds right into a savings account?”

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2) “Do you buy lunch? That could cost as much as $5 to $10 a day. Bring your own lunch, even having a protein bar and an apple or a banana.”

3) “Stay with friends when you go on vacation instead of in hotels. Travel on the off season so airfare and, if you do stay in a hotel, room rates are lower.”

4) “Go back to cooking more instead of eating out or even buying pre-packaged foods. Reserve eating out for only special occasions.”

5) “Work on the reason behind your spending. Do you spend, even if you don't need something, because you need immediate gratification? Do you have poor impulse control? Do you spend because it makes you feel good about yourself, at least temporarily?”

6) “Once you have a better idea about the reason behind your spending, you will be in a better position to control it.”

7) “Make a list of all the reasons that saving is going to make you feel better, even better than spending.”

8) “Reward yourself in non-materialistic ways when you put money into your savings account rather than spending it. Call up a friend you haven't spoken to in a while. Take an hour to read a novel or poetry for pleasure. Work on a creative project you've been putting off doing because you're so busy.”

9) “Research where you could move your savings account so you can get the best return on your savings as a motivator to save.”

Holly Wolf, a chief marketing officer at Conestoga Bank, is not a financial expert but has been successfully saving money. Here are her 11 tips.

We value and respect our HERWriters' experiences, but everyone is different. Many of our writers are speaking from personal experience, and what's worked for them may not work for you. Their articles are not a substitute for medical advice, although we hope you can gain knowledge from their insight.